A loan shark is within a personal or professional network that offers loans at exorbitant interest rates.\u00a0<\/p>

One can find them in under-banked neighborhoods, on the internet, or even through personal networks. The funds of a loan shark are usually from mysterious sources, and they work for personal businesses or private entities.<\/p>

For loaning they do not require background checks or credit reports. Their intention to lend large sums of money is to gain high levels of interest in a short time.\u00a0<\/p>

For a loan, the loan sharks charge interest rates much above any regulated rate. For instance, a loan shark may lend $5,000 to a person with the provision that $10,000 be repaid within 15 days.\u00a0<\/p>

These lenders may ask for the debt to be repaid at any time, by using violence for forcing repayment from the borrower.<\/p>

It is illegal to do business dealings with a loan shark, borrowers can seek other alternatives for loans.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t